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Climate Change and the Insurance Industry

August 2, 2014August 1, 2014 Note From The Editor

Climate change is a controversial issue, but mostly because of political and philosophical beliefs. The insurance industry has been well aware of the potential impact a changing climate can have on the global environment and has been encouraging efforts to mitigate this impact. Climate change has the potential to bankrupt the insurance industry, as the phenomenon would be responsible for the increasing frequency in major natural disasters that disrupt the global economy and put a strain on the world’s resources. The insurance industry has been working to steel itself against…

Flood Insurance and Catastrophe

July 26, 2014July 25, 2014 Note From The Editor

Flood insurance is not something that many homeowners have, but they don’t necessarily know that they don’t have it. This is because flood protection is not a part of a conventional homeowners insurance policy. Most homeowners have to have insurance protection due to the provisions of their mortgage, but few people take the time to understand their policy and what protections it offers. As such, many people are often left at the mercy of natural disasters. In the United States, flood insurance is within the jurisdiction of the federal government.…

Examining the Negative Stigma Surrounding Insurance

July 19, 2014July 18, 2014 Note From The Editor

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Insurance is often considered a necessary evil by many people, but why? The issue is somewhat complex and sometimes difficult to understand for certain due to the myriad opinions that are involved. For many, insurance is shrouded in a negative stigma because of certain philosophical perspectives. For others, the insurance industry makes questionable business decisions that add fuel to ever-present controversy. One thing to understand is that insurance is a for-profit industry. Companies are formed, thrive, and fail based on their ability to do business effectively within a particular market.…

Is Health Insurance Worth It?

July 12, 2014July 11, 2014 Note From The Editor

Health insurance can be a tricky subject. Many people consider insurance coverage to be vital, holding a place of importance in their lives that few other things approach. Others tolerate insurance coverage, thinking of its as a necessary expense that they are neither fond of nor hate. Still others believe that insurance is a waste of money that could be better spent on other things. Like all forms of insurance, the value of health coverage is a matter of perspective. In the U.S., health insurance coverage is mandatory, but that…

Don’t Forget About Flood Insurance

July 5, 2014July 4, 2014 Note From The Editor

coastal flood property insurance north carolina

The Atlantic hurricane season has arrived and that means people may need to consider ways to protect themselves. This year’s hurricane season has already been somewhat active, but no devastating storms have yet struck the U.S. This does not mean that the country is safe from such disasters, only that one hasn’t showed up yet. It is impossible to tell when or where a powerful hurricane will form, so it may be a good idea to get a better understanding of flood insurance. One of the defining aspects of hurricanes…

Is Cyber Insurance Really Necessary?

June 28, 2014June 27, 2014 Note From The Editor

Society is becoming more integrated with technology and that is exposing businesses to new threats that they may not be prepared to deal with. Cyber insurance is designed to be a type of protection against these threats, but many businesses have yet to fully embrace this protection. Large companies tend to have cyber liability policies in force, but smaller companies do not typically see this type of coverage as necessary, mostly due to the misconception that they are not high value targets. High profile cyber attacks are often highlighted in…

Insurance Fraud and its Effect on Premiums

June 21, 2014June 21, 2014 Note From The Editor

Auto insurance fraud is a costly problem Insurance fraud is quite prevalent, but not necessary always in the spotlight. Many people don’t understand how fraud affects the insurance industry or that fraud also has an impact on them as well. In the auto insurance sector, fraud has become quite common, partly due to the prevalence of certain laws and the that there are groups devoted to committing fraud in a highly organized manner. Some of these groups are lead by medical and insurance professionals as well. According to the Coalition…